Plug Power (NASDAQ:PLUG) Raised to Sell at StockNews.com

Plug Power (NASDAQ:PLUG) was upgraded by investment analysts at StockNews.com to a “sell” rating in a research note issued on Wednesday.

PLUG has been the subject of several other reports. Craig Hallum reduced their price objective on Plug Power from $4.00 to $3.00 and set a “buy” rating for the company in a research report on Thursday, November 14th. BTIG Research downgraded Plug Power from a “buy” rating to a “neutral” rating in a research report on Thursday, November 14th. Canaccord Genuity Group lowered their price objective on shares of Plug Power from $2.50 to $2.25 and set a “hold” rating on the stock in a report on Wednesday, November 13th. Wells Fargo & Company reduced their target price on shares of Plug Power from $3.00 to $2.00 and set an “equal weight” rating for the company in a report on Thursday, November 14th. Finally, Susquehanna lifted their price target on shares of Plug Power from $2.00 to $2.50 and gave the company a “neutral” rating in a research note on Thursday, January 16th. Five research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Plug Power has a consensus rating of “Hold” and an average price target of $4.55.

Plug Power Stock Performance

Shares of PLUG stock opened at $2.09 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 2.08. Plug Power has a 52 week low of $1.60 and a 52 week high of $5.14. The company’s 50 day moving average price is $2.36 and its two-hundred day moving average price is $2.25. The company has a market capitalization of $1.90 billion, a P/E ratio of -0.98 and a beta of 1.79.

Plug Power (NASDAQ:PLUG) last issued its quarterly earnings data on Tuesday, November 12th. The electronics maker reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). The company had revenue of $173.70 million for the quarter, compared to analyst estimates of $207.25 million. Plug Power had a negative return on equity of 46.99% and a negative net margin of 214.05%. The company’s revenue was down 12.6% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.47) earnings per share. On average, analysts expect that Plug Power will post -1.2 earnings per share for the current fiscal year.

Institutional Trading of Plug Power

A number of hedge funds have recently modified their holdings of PLUG. Geode Capital Management LLC raised its holdings in Plug Power by 23.6% in the 3rd quarter. Geode Capital Management LLC now owns 19,194,629 shares of the electronics maker’s stock valued at $43,388,000 after acquiring an additional 3,662,456 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Plug Power by 25.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,637,039 shares of the electronics maker’s stock worth $15,000,000 after purchasing an additional 1,354,500 shares during the period. Van ECK Associates Corp lifted its holdings in Plug Power by 23.6% during the 3rd quarter. Van ECK Associates Corp now owns 4,232,001 shares of the electronics maker’s stock worth $8,803,000 after purchasing an additional 809,187 shares during the last quarter. Vontobel Holding Ltd. boosted its stake in Plug Power by 44.3% in the 3rd quarter. Vontobel Holding Ltd. now owns 3,426,354 shares of the electronics maker’s stock valued at $7,744,000 after purchasing an additional 1,051,400 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Plug Power by 24.5% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,421,222 shares of the electronics maker’s stock valued at $5,472,000 after buying an additional 476,060 shares in the last quarter. Institutional investors and hedge funds own 43.48% of the company’s stock.

Plug Power Company Profile

Plug Power Inc develops hydrogen and fuel cell product solutions in North America, Europe, Asia, and internationally. The company offers GenDrive, a hydrogen-fueled proton exchange membrane (PEM) fuel cell system that provides power to material handling electric vehicles; GenSure, a stationary fuel cell solution that offers modular PEM fuel cell power to support the backup and grid-support power requirements of the telecommunications, transportation, and utility sectors; ProGen, a fuel cell stack and engine technology used in mobility and stationary fuel cell systems, and as engines in electric delivery vans; GenFuel, a liquid hydrogen fueling delivery, generation, storage, and dispensing system; GenCare, an ongoing Internet of Things-based maintenance and on-site service program for GenDrive fuel cell systems, GenSure fuel cell systems, GenFuel hydrogen storage and dispensing products, and ProGen fuel cell engines; and GenKey, an integrated turn-key solution for transitioning to fuel cell power.